Inhoud

This course aims at the initial graduate (masters) level. It will introduce the basic theoretical foundations of financial intermediation (as a sub-field of the economics of information and industrial organisation) (part I) and applying them to issues such as competition (mergers and the evolution of market structure) distribution (phonebanking) (part II). Feedback w.r.t. policy making (regulation) is included (part III).

Studiemateriaal

Used Course material
*The course actively uses journal articles. It discusses some of the basic models of banking, intermediation and competition in financial markets that appeared in Journal of Political Economy, Journal of Financial Intermediation, Journal of Finance, Review of Financial Studies, Rand Journal of Economics and others. The focus is on the elementary understanding of the models used and the scope is more limited than the material covered in the recommended Course Material below.

Additional Recommended Course Material
*X. Freixas and J.-C. Rochet, 2008, Micro-economics of Banking, 2nd Edition, The MIT Press, Cambridge
*D. Spulber, 1999, Market Microstructure, Cambridge University Press.

Toledo
* Toledo is being used for this learning activity.
 

Toelichting werkvorm

This course takes the form of a series of lectures, mostly topical. Some topics may extend over several lecture sessions. Equally possible is that the student is expected to read further through some of the material after (s)he has been introduced to the basic insights during the lecture.

Active participation during lectures is strongly encouraged, especially when the analytical material is brought to competition cases regarding mergers or state aid and regulation in the banking sector.